OIL and HCL Join Forces for Exploration of Critical & Strategic Minerals

Noida, September 19, 2025 – In a strategic move to strengthen India’s self-reliance in critical and strategic mineral resources, Oil India Limited (OIL) and Hindustan Copper Limited (HCL) have signed a Memorandum of Understanding (MoU) to collaborate on exploration and development of key minerals, including copper and its associated resources. OIL, a Maharatna PSU under the Ministry of Petroleum & Natural Gas, brings proven expertise in exploration, production, and transportation of crude oil and natural gas. The company has recently diversified into critical minerals to complement its existing oil and gas portfolio. HCL, a Miniratna PSU under the Ministry of Mines, specializes in mining, processing, and marketing of copper and related products, with an established focus on ore beneficiation and copper concentrate. The collaboration is aligned with the National Critical Mineral Mission of the Government of India. It aims to secure vital mineral resources that are essential for energy security, industrial growth, and technological advancement. The MoU was signed in the presence of Dr. Ranjit Rath, Chairman & Managing Director of OIL, and Mr. Sanjiv Kumar Singh, Chairman & Managing Director of HCL, along with senior officials from both organizations. This partnership marks a milestone in India’s mineral sector, as the two PSUs combine their expertise to reduce import dependence and build a strong domestic resource base for critical minerals. Disclaimer: This update is based on the company’s official press release and is for informational purposes only. It should not be considered as investment advice. Follow me for more corporate and market updates.